The Qatar Investment Authority (QIA) has raised almost $1.5bn by selling down its stake in Shell and BG in recent weeks. QIA sold $840mn-worth of BG shares and a $643mn Shell stake, according to Qatar’s Al-Sharq newspaper.
The sell-off comes as Shell pushes through a $70bn takeover of BG but can most readily be interpreted as ‘business as usual’ for QIA, as it manages its huge portfolio. QIA controls investments of over $250bn and recently revealed a plan to invest $35bn in the US over the next five years in a bid to further diversify. (CONTINUED - 220 WORDS)